On September 5th, Xinri E-vehicle (603787.SH) stated at the performance briefing that since the implementation of the new national standard in 2019, a large number of non-compliant electric two-wheeled vehicles have been phased out. In addition, the average replacement cycle for electric two-wheeled vehicles is around 5 years. With the development of China's electric two-wheeled vehicle industry and the increase in the number of vehicles, the natural replacement demand is expected to grow. On the policy front, on one hand, since the State Council issued the "Action Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Replacement Scheme" in the first half of this year, the Ministry of Commerce and other departments have released a series of "Renewal" action plans and several measures. In July 2024, the National Development and Reform Commission and the Ministry of Finance jointly issued the "Several Measures to Strengthen Support for Large-scale Equipment Renewal and Consumer Goods Replacement", among which Article 7 clearly stated: "Support localities to enhance the ability to replace old consumer goods with new ones. Arrange special long-term treasury funds directly to support localities in independently enhancing the ability to replace old consumer goods with new ones. The National Development and Reform Commission and the Ministry of Finance comprehensively consider factors such as the permanent resident population, regional GDP, and the quantity of automobiles and household appliances in each region to reasonably determine the scale of support funds for each region. Each region should focus on supporting the scrapping and replacement of automobiles and passenger vehicles by individual consumers, the replacement of old household appliances and electric bicycles, as well as the purchase of items and materials for the renovation of old houses, kitchen and bathroom local renovations, home adaptations for the elderly, and the promotion of smart home consumption." The introduction of a series of policy measures is expected to stimulate the growth of replacement demand for electric two-wheeled vehicles. Shared mobility, as an emerging transportation method, has gradually become an important choice for urban residents, not only solving the problem of urban traffic congestion, but also promoting the efficient use of resources due to its convenience, flexibility, and economy. When first-tier cities piloted the operation of shared electric bicycles, they took into account both standardization and convenience. Through policy guidance and market regulation, they promoted the healthy development of shared electric bicycles. With further policy support and market opening up, it is expected that future shared mobility will become more convenient, safe, and efficient, meeting the personalized needs of different users.